Maldives Monetary Authority (MMA) has once again reminded that the dual circulation period of old MVR 5 banknote will end by the end of this year.
MVR 5 note is the only old banknote currently in circulation. The central bank said even though the note will lose its legal tender status by the end of this year, it can be exchanged until July 2021.
The new polymer MVR 5 note was introduced on May 10, but it went into circulation on August 10.
The note was designed by Abdulla Nashaath, who designed the “Ran Dhihafaheh” polymer note series. The series previously included a MVR 5 coin.
The MVR 5 note features an image of famous local football legend Ali Ashfaq.
“Ran Dhihafaheh” series is the third banknote series to be introduced in the Maldives. It consists of MVR 10, MVR 20, MVR 50, MVR 100, MVR 500, MVR 1000 and MVR 5 notes.
The polymer note series boasts several strong security features, and each note has a different colour and theme. The notes also have a special feature for people with visual impairments.